Facebook Credits: New Economic Driver Will Provide New Business Opportunities in the Internet Economy

Facebook Credits will likely become a new economic driver in the Internet economy providing new business opportunities for entrepreneurs as Facebook begins to heavily promote Facebook Credits in various new ways as part of their strategy to support the price of their stock, says Wayne Beeson, an online marketing consultant who blogs on entrepreneurship and the Internet economy.

Draper, Utah (PRWEB) May 30, 2012

“Facebook Credits may soon become a new economic driver in the Internet economy, providing significant new business opportunities for entrepreneurs. Entrepreneurs should start looking for innovative ways of integrating Facebook Credits into their business strategy because Facebook is likely going to be very supportive very soon,” says Wayne Beeson, online marketing consultant in his recent blog post.

Mr. Beeson explains in his recent post that Facebook is going to need new revenue streams to drive the price of its stock to meet investor expectations. Since Facebook has a mediocre reputation as an advertising platform, the company will likely begin to heavily promote Facebook Credits in various ways to increase revenue and profit. Mr. Beeson notes that some experts feel that Facebook Credits will surpass Facebook’s advertising revenue in the next three to five years.

Facebook Credits, as described on the “Credits” page of Facebook.com: “Just like tokens at an arcade or amusement park, credits are a secure way to play games and buy virtual and digital goods on Facebook. You can buy credits using your credit card, PayPal, mobile phone or another payment method.” The developers who create and sell virtual and digital goods on Facebook pay 30% of the sales price to Facebook, and retain 70% for themselves. Facebook Credits is a virtual currency and is available in well over a dozen currencies including U.S. dollars, pound sterling, euros, and Danish kroner. At the present time, ten Facebook credits equal 1USD.

Wayne Beeson is an online marketing consultant who selectively partners to develop business opportunities, and blogs on entrepreneurship and the Internet economy.

Wayne Beeson
Wayne Beeson Online Marketing Consulting
402-321-5207
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Businesses Qualify for $67 Million in Tax Credits - Canton Daily Ledger

Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.
“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”
The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.
More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.
The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.
Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc
The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.
“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”
The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.
More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.
The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.
Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc
The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

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Businesses Qualify for $67 Million in Tax Credits in 2011 - msnbc.com

CHICAGO-- More than $67 million in income tax credits was given to Illinois businesses last year, according to a statement released Tuesday by the Illinois Department of Employment Security.

The money, made available through the federal program called the Work Opportunity Tax Credit, helps reduce an employer's cost of doing businesses while hiring those in need of a job.

IDES Director Jay Rowell says the program is a valuable way for business owners and prospective employees alike.

"This is a real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy," said Rowell. "It also shows that employers increasingly view IDES as an employment agency."

More than 27,000 individuals were hired under the WOTC program in 2011.

The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans, summer youth employees, qualified food stamp recipients, and others.

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Businesses Qualify for $67 Million in Tax Credits - IGNN (press release)

CHICAGO - Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.

“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”

The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.

More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.

The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.       

Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc

The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

View the original article here